Italian glass manufacturer expands in Europe with acquisition

The purchase agreement for the acquisition of around 79 per cent of the share capital of Huta Szkla Czechy (HSC) was executed for a total price of slightly less than €7m.

The Italian company, which also manufactures glass containers, believes HSC is a company with high potential, that operates in niches of the global market of glass containers for cosmetics and perfumery, and also for food and beverages.

Due to its strategic geographical area, both because of the potential for growth of the Polish market, and because of its location in between the traditional EU markets and the high-growth Eastern Europe markets, made it an attractive proposition for Zignago.

Zignago president Franco Grisan, who will operate the same role at HSC, stated: “This transaction announced today is fully consistent with the Zignago Vetro's strategy, which aims to grow and strengthen both organically and by acquisition and to increase its flexibility with a view of broadening its offer and its reference markets.”​